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2020 Chinese Vape Export Turnover to Be $7.6B, Triple by 2025

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"The Report manifested the global e-cig turnover in 2020 was $36.3 billion, increasing 10% compared with $33 billion in 2019."
E-cigarettes

On Dec.20th, conducted by China Electronic Chamber of Commerce (CECC), hosted by The Electronic Cigarette Industry Committee, the 2020 4th International Electronic Cigarette Industry Summit Forum was successfully held in Shenzhen, China.

Ao Weinuo, secretary-general of the Committee, posted The World E-cig Industry Report 2020 which mainly included the market size, exportation data analysis in 2020, and the market size in 5 years.

The Report manifested the global e-cig turnover in 2020 was $36.3 billion, increasing 10% compared with $33 billion in 2019; the anticipated exportation value of China was ¥49.4 billion (about $7.6 billion), a year-on-year growth of 12.8% compared with ¥43.8 billion the former year. (Note: the data above exclude HNB)

The top 5 countries of e-cig market were the U.S. the U.K. Russia, China and France, and there were also regions with increasing e-cig market, including the East Europe, the Middle Asia, the Middle East and South America. 

The demands of e-cig products was still vigorous in spite of the 2020 pandemic. The Report voiced that benefited from China’s successful control of Covid-19, Chinese vape industry resurrected thoroughly and led the global manufacturing exports. Chinese vape cartridge and vape oil thus became the new growth areas.

In terms of the export rate of vape cartridges, disposable vape accounted for 50%, enclosed vape accounted for 24%, and open vape was 26%. 

The Report forecast the global vape turnover in 5 years:

● 2021: $46.5 B

● 2022: $59.5 B

● 2023: $76.2 B

● 2024: $97.5 B

● 2025: $124.8 B

The Future of the E-cigarette Industry

In the coming year of 2021, the work plan of The Electronic Cigarette Industry Committee will focus on the following five aspects:

● Continue to carry out e-cigarette testing, certification and credit evaluation;;

● Working with member enterprises to compile and release White Paper On Prevention Of minors' use of e-cigarettes;

● Revise and upgrade The General Specification For Vape Appliances T / cecc1-2017 and Vape Judge Specification T / cecc2-2017;

● Set up an "intellectual property protection center" to form an effective mechanism against counterfeiting;

● Hold various activities to create an active atmosphere.

At the same time, the Electronic Cigarette Industry Committee gave 4 key suggestions for e-cigarette companies:

● Try best to protect minors and guard the bottom line of the industry;;

● Take product quality and safety as the life of the enterprise;

● Encourage R & D innovation, occupy the global commanding height, and promote domestic and international dual circulation;

● resist the non-standard behaviors such as counterfeiting, take good care of the industry and maintain good market order.

The Committee called on e-cigarette enterprises to follow the principle of "national interests first and consumers' interests first". It hoped that the relevant departments of the state would study and formulate relevant regulatory policies as soon as possible and firmly support them. The Committee was confident that under the guidance and supervision of good industrial policies, it would have a foothold in China and realize the greater development of e-cigarette industry in the global market.

It can be seen from the contents of the Report that in 2021, "protecting minors from e-cigarettes" and "cracking down on counterfeit goods" will become the focus of the e-cigarette industry, which will further standardize the industry and safeguard the interests of consumers.

© 2019-2020 VAPEBIZ.NET All Rights Reserved. Content Can Not Be Translated or Reproduced without Authorization.
kama@vapebiz.net

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